The rising practice of shaking down customers to pay for security shortfalls could have a silver lining for CISOs, as diluted price competitiveness could convince top brass of the ROI of cybersecurity investments.
Consumers may be more on the hook for paying for the rising costs of data breaches than they realize, as companies increasingly turn to price hikes as part of their post-breach cost-recovery strategies. According to a report from IBM earlier this year, nearly two-thirds of companies plan to pass along data breach costs directly to their customers — a practice that is sharply increasing, IBM said.
Read more…
Source: CSO News
Related:
- Ernst & Young reveals data breach following hack on support system
July 20, 2026
Ernst & Young (EY) has confirmed suffering a cyberattack in which it lost sensitive customer information, including tax data. In a data breach notification letter sent to affected individuals, the firm said that on April 23, 2026, it spotted “anomalous activity” within a third-party platform its IT team uses. This is an IT service management platform ...
- Healthcare giant Abbott probes two cyber incidents amid extortion claims
July 20, 2026
Abbott Laboratories, one of the world’s largest healthcare and medical device companies, is investigating two apparently unrelated cyber incidents after confirming unauthorized access to internal systems. While Abbott says there has been no impact on manufacturing, laboratory operations, or patient care, cybercriminal groups ShinyHunters and ShadowByt3$ claim the breaches were far more extensive. Those claims ...
- Tech support scam caused massive data breach at Australian airline Qantas
July 16, 2026
Australia’s Privacy Commissioner has revealed a tech support scam was the cause of the massive 2025 data breach at Australian airline Qantas and found the carrier didn’t breach its privacy obligations despite leaking personally identifiable information for 5.7 million customers. The Commissioner reached that conclusion, and a decision not to open a formal privacy probe, in ...
- Supermarket chain Lidl warns customers after data leak
July 10, 2026
Unknown individuals managed to gain access to customer data held by the supermarket chain Lidl. The German company informed affected customers of this via email this week. Thus far, the supermarket chain has declined to say how many customers were affected. However, the discount retailer did state that it has notified the Dutch Data Protection Authority. Read ...
- Accenture confirms breach after hacker steals 35GB of source code and other data
July 9, 2026
Accenture has confirmed suffering a cyberattack, days after threat actors started selling an archive allegedly coming from the firm. “We are aware of this isolated matter, and we have remediated its source. There is no impact to Accenture operations and service delivery,” Accenture said in a statement. It follows a relatively unknown threat actor called 888 posting ...
- An unnamed US county paid $1M extortion demand to cybercriminals
July 9, 2026
A US county reportedly paid $1 million to Kairos, an extortion gang that claimed to have stolen more than 2 TB of data, but the county never received independently verifiable proof that the stolen files had been deleted – just the criminals’ promise. This means the county’s stolen files may turn up for sale on a ...